ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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When diets that limited bread became popular, sales of jelly dropped.
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When studies showed that fish contained toxins, sales of chicken rose.
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As the U.S. Hispanic population grew, sales of salsa increased.
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After a fashion model shared her diet secrets, yogurt sales went up.
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Detailed explanation-1: -A complementary good is a product or service that provides value to another product or service. In other words, they are two things that the customer utilises in conjunction with one another. Cereal and milk, for example, or a DVD and a DVD player.
Detailed explanation-2: -When two goods are complements, they experience joint demand-the demand of one good is linked to the demand for another good. Therefore, if a higher quantity is demanded of one good, a higher quantity will also be demanded of the other, and vice versa.
Detailed explanation-3: -Which statement is an example of substitute goods affecting demand? A bumper crop of cotton lowers the price of cotton clothing.
Detailed explanation-4: -A decrease in the price of complementary goods leads to a increase in the demand for given commodity and vice versa. For example if price of a complementary good (say petrol) decreases, then demand for given commodity (say car) will rise. Was this answer helpful?